Nabors Industries (NBR) to Release Quarterly Earnings on Tuesday

Nabors Industries (NYSE:NBR) will be issuing its quarterly earnings data after the market closes on Tuesday, October 22nd. Analysts expect the company to announce earnings of ($1.47) per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Nabors Industries (NYSE:NBR) last released its earnings results on Tuesday, July 23rd. The oil and gas company reported ($4.29) EPS for the quarter, missing analysts’ consensus estimates of ($1.77) by ($2.52). The company had revenue of $742.98 million for the quarter, compared to analysts’ expectations of $737.91 million. Nabors Industries had a negative return on equity of 28.10% and a negative net margin of 4.73%. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($2.26) EPS. On average, analysts expect Nabors Industries to post $-12 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Nabors Industries Stock Down 1.7 %

NBR stock opened at $73.09 on Monday. The stock has a market capitalization of $782.21 million, a P/E ratio of -5.29 and a beta of 2.11. Nabors Industries has a 52 week low of $59.67 and a 52 week high of $125.86. The firm has a 50-day simple moving average of $73.64 and a 200-day simple moving average of $75.55. The company has a quick ratio of 1.57, a current ratio of 1.82 and a debt-to-equity ratio of 5.01.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on NBR shares. Barclays lowered their price target on shares of Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 16th. Royal Bank of Canada restated a “sector perform” rating and set a $102.00 price target on shares of Nabors Industries in a research report on Wednesday, October 16th. Finally, Citigroup lowered shares of Nabors Industries from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $110.00 to $75.00 in a research report on Friday, September 13th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Nabors Industries currently has a consensus rating of “Hold” and an average price target of $98.80.

About Nabors Industries

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells in the United States and internationally. The company operates through four segments: U.S. Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running services, including casing and tubing running, and torque monitoring; managed pressure drilling services; and drilling-bit steering systems and rig instrumentation software.